CryptoQuant CEO: Still bullish on Bitcoin in the long term, but need to avoid excessive risks

Odaily News Ki Young Ju, founder and CEO of CryptoQuant, released a summary of this month's data on X: - Bitcoin is still in a bull market cycle; - Whales are in risk-off mode, reducing futures contract positions; - Selling pressure from miners and long-term holders; - Negative Coinbase premium; - $47,000 entry price difference with traders; - Lack of new capital inflows to ETFs and custodial wallets; - ETH demand exceeds BTC, which may indicate the early arrival of the altcoin season. Overall, it remains bullish in the long term, but at the same time believes that excessive risks should be avoided.